Drugmakers Raise U.S. Prices on 350 Medicines

Drugmakers are raising US prices on at least 350 branded medications — including vaccines against COVID, RSV and shingles, as well as the blockbuster cancer treatment Ibrance — even as the Trump administration pressures them to cut prices, according to data provided exclusively by healthcare research firm 3 Axis Advisors, Michael Erman reported for Reuters.

US patients currently pay far more for prescription medicines than consumers in other developed nations. (Photo: Pfizer)

The number of price increases planned for 2026 is up from the same point last year, when drugmakers unveiled plans to raise prices on more than 250 drugs. The median increase this year is around 4%, in line with 2025.

The hikes do not reflect rebates to pharmacy benefit managers or other discounts.

Drugmakers also plan to cut list prices on around nine drugs, including a more than 40% reduction for Boehringer Ingelheim’s diabetes drug Jardiance and three related treatments.

Jardiance is among the 10 drugs for which the US government negotiated lower prices for the Medicare program serving people aged 65 and older in 2026. Under those negotiations, Boehringer and Lilly slashed the Jardiance price by two-thirds.

US patients currently pay far more for prescription medicines than consumers in other developed nations — often nearly three times as much.

Trump has pressured drugmakers to lower prices to levels paid in similarly wealthy countries. The increases come even as Trump has struck deals with 14 drugmakers on pricing for some medicines covered by Medicaid and for cash-paying patients.